Softbank invests in Synacast
February 4, 2011
Softbank has become the leading shareholder in Synacast, the operator of a leading online television service in China, adding to the list of its investments in Chinese Internet companies.
The Japanese mobile carrier has acquired a 35 per cent equity stake in Synacast for about 20 billion yen (€2.2bn) via a private placement.
Softbank and Synacast will consider partnerships in broadcasting, e-commerce and other areas. They will also work together on streaming TV programming beyond Chinese borders.
Synacast works with 120 TV stations and content providers for its online video service, PPTV, which streams news, dramas and other popular content to more than 100 million users in China a month.